Hungary announces Wekerle Plus housing support program for 2027

Prime Minister Péter Magyar has unveiled the 2027 budget plans, introducing the Wekerle Plus program to replace the current Otthon Start housing support. The new initiative aims to assist young people aged 18 to 41 in purchasing or building their first homes.

Under the Wekerle Plus scheme, fixed 3 percent interest rates will apply to new constructions and new home purchases. However, interest rates for used properties will increase to a fixed 5 percent. Eligibility criteria are expected to be stricter, including a requirement for the applicant and their spouse to own less than a 50 percent stake in any other property, and a mandatory five-year residency requirement to prevent investment-driven purchases.

The package also includes the Wekerle Plus savings program, which offers state subsidies of 10 percent for deposits made in the first five years and 20 percent from the sixth year onwards. Additionally, a new energy efficiency renovation program will be launched, providing up to 7.5 million forints in non-refundable state support and 15 million forints in loans at a 3 percent interest rate.

To support long-term housing availability, the government plans to allocate 30 billion forints in 2027 for a rental housing and dormitory construction program, utilizing EU development funds.